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Bank of America Agents $800MM Credit Facility for Celestica

June 28, 2018, 07:13 AM
Filed Under: Manufacturing

Celestica Inc., a provider of design, manufacturing and supply chain solutions, announced that it has entered into a new $800 million credit facility established pursuant to a credit agreement with a syndicate of lenders and Bank of America, N.A. as Administrative Agent.  The Credit Facility will refinance and replace the Company's existing bank credit facility that was due to mature in May 2020.   

The Credit Facility consists of a $350 million term loan and a $450 million revolving credit facility.  The Credit Facility also includes an accordion feature, which will permit the Company to increase the aggregate term or revolving loan commitments thereunder on an uncommitted basis, under specified circumstances and subject to certain conditions.  The Revolving Credit Facility matures in June 2023 and the Term Loan matures in June 2025. The Credit Facility will be used to repay all amounts outstanding under the Company’s existing bank credit facility, and for other general corporate activities, including, but not limited to, capital expenditures, working capital requirements, share repurchases and/or acquisitions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Canadian Imperial Bank of Commerce, Citibank, N.A. (with respect to the Term Loan) Citibank, N.A., Canadian Branch (with respect to the Revolving Credit Facility), MUFG Bank, Ltd., RBC Capital Markets and The Bank of Nova Scotia, acted as Joint Lead Arrangers and Joint Bookrunners.

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